财政政策的有效性取决于传导机制,尤其是传导机制中微观主体的反应及其行为调整,财政政策工具的有效性是体制约束、微观主体数量、消费倾向、预算约束、信息传递效率与政策工具作用时间的函数。在此基础上,我们重新解释了积极财政政策失灵的原因,并对稳健的财政政策工具选择问题进行了初步探索。 The effectiveness of fiscal policy depends on the conduction mechanism, in particular the reaction of the micro-entities and their behavior adjustment in the transmission mechanism. The effectiveness of the fiscal policy tools is that of the system constraints, the number of micro-entities, the propensity to consume, the budget constraint, the efficiency of information transmission and the policy tools Function of time. On this basis, we have reinterpreted the reasons for the failure of the proactive fiscal policy and conducted a preliminary exploration on the issue of sound fiscal policy tools.